Snowflake (NYSE:SNOW) Price Target Raised to $450.00

Snowflake (NYSE:SNOW) had its target price lifted by TD Cowen from $370.00 to $450.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently commented on SNOW. Scotiabank restated a “sector outperform” rating and issued a $440.00 price target (up from $320.00) on shares of Snowflake in a research report on Thursday. Morgan Stanley upped their price objective on shares of Snowflake from $300.00 to $470.00 and gave the stock an “overweight” rating in a research report on Thursday. HSBC set a $289.00 price objective on shares of Snowflake and gave the stock a “buy” rating in a research note on Friday, May 29th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a report on Thursday. Finally, Benchmark raised their target price on shares of Snowflake from $290.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Thirty-four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $414.24.

Snowflake Trading Down 5.0%

Shares of SNOW stock opened at $338.47 on Thursday. The stock has a market cap of $117.31 billion, a P/E ratio of -106.44 and a beta of 1.33. Snowflake has a 1 year low of $118.30 and a 1 year high of $384.56. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The stock has a 50 day simple moving average of $297.66 and a 200 day simple moving average of $220.33.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative return on equity of 47.20% and a negative net margin of 20.07%.The company’s revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. On average, research analysts predict that Snowflake will post -1.8 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $324.06, for a total transaction of $16,312,532.28. Following the completion of the transaction, the director owned 26,036 shares of the company’s stock, valued at approximately $8,437,226.16. This trade represents a 65.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 25,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $325.00, for a total value of $8,125,000.00. Following the transaction, the executive vice president directly owned 340,379 shares of the company’s stock, valued at approximately $110,623,175. This represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,131,160 shares of company stock worth $317,966,701. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Snowflake

Institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in shares of Snowflake by 25,944.6% during the 2nd quarter. California State Teachers Retirement System now owns 127,340,602 shares of the company’s stock valued at $32,408,183,000 after purchasing an additional 126,851,670 shares in the last quarter. Norges Bank acquired a new stake in Snowflake during the fourth quarter worth approximately $974,091,000. Jericho Capital Asset Management L.P. bought a new stake in Snowflake in the fourth quarter worth approximately $345,619,000. William Blair Investment Management LLC increased its holdings in Snowflake by 159.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,346,998 shares of the company’s stock worth $295,477,000 after purchasing an additional 828,789 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Snowflake by 44.7% in the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock valued at $392,259,000 after buying an additional 803,110 shares during the period. Institutional investors own 65.10% of the company’s stock.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong Q2 results: Snowflake reported adjusted earnings of $0.62 per share versus the $0.45 consensus estimate, while revenue increased 35.1% year over year to $1.55 billion, ahead of expectations. Product revenue rose 37% to approximately $1.49 billion. Snowflake shares surge as AI demand powers growth and lifts outlook
• Positive Sentiment: AI is accelerating demand: Management said AI-related offerings contributed about half of the recent growth acceleration. Snowflake’s CoCo coding agent added more than 2,000 accounts, supporting the view that enterprise AI workloads can increase consumption of its data platform. Analysts discuss Snowflake’s AI-driven acceleration
• Positive Sentiment: Guidance and analyst targets moved higher: Snowflake raised fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion. UBS, Citi, JPMorgan, TD Cowen and other firms subsequently raised targets, with several reaching $450 to $500 and maintaining bullish ratings. Snowflake’s AI momentum prompts higher price targets
• Neutral Sentiment: Profit-taking after a major rally: The stock had surged more than 20% after the earnings release and reached levels near its 52-week high. The current retreat likely reflects investors locking in gains rather than a deterioration in the latest operating results.
• Negative Sentiment: Margin and valuation risks remain: Management lowered fiscal 2027 gross-margin guidance to 74% as expanding AI workloads increase costs. Snowflake also remains unprofitable under generally accepted accounting principles, while its high valuation leaves the stock vulnerable to further profit-taking if growth expectations moderate. Snowflake’s AI growth and margin outlook
• Negative Sentiment: Executive stock sale: EVP Christian Kleinerman sold 10,000 shares for approximately $3.8 million under a pre-arranged Rule 10b5-1 plan. While scheduled sales do not necessarily signal a change in business outlook, the transaction may add to short-term investor caution after the rally.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.